Althea Group subsidiary Peak USA begins production of cannabis beverages in Florida [Video]

Althea Group Holdings Limited (ASX:AGH) CEO Joshua Fegan joins Proactive’s Tylah Tully to discuss subsidiary Peak USA’s production and operations in the US cannabis beverages market.

Peak USA has established an emulsion manufacturing lab in Florida, enabling the production of cannabis-infused beverages using its proprietary emulsion, Envision™, which delivers THC. Initial production is linked to a joint venture with Flora Growth Corporation, with the launch of cannabis beverages under the Melo and Cloud Cola brands scheduled for the coming weeks. Melo will offer seltzers in wild berry, grapefruit and strawberry flavours, each containing 5mg of THC, while Cloud Cola will provide vintage cola, root beer and orange creamsicle sodas, each containing 10mg of THC.

The joint venture is negotiating with liquor distributors in key US states, including Florida, Texas, Georgia, South Carolina and North Carolina, and expects agreements soon. Online sales are set to begin in September 2024.

The US cannabis beverages market, currently valued at USD 966.92 million, is projected to grow significantly. Fegan expressed confidence in Peak USA’s market entry, with the Florida facility being a key component in ensuring product quality.

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